601 Sparta St, Steeleville, IL 62288-1536
This 0.19-acre commercial property located at 601 N Sparta Street, Steeleville, IL, is priced at $85,000 and presents a unique investment opportunity. Previously operating as a laundromat, the building retains all the necessary plumbing and electrical hookups for continued use as such. This provides a significant advantage for a prospective buyer looking to quickly establish a similar business. However, the adaptable layout and existing infrastructure make it equally suitable for a wide range of alternative commercial ventures. The property enjoys a high-visibility location, ensuring excellent exposure to potential customers. A key feature is the inclusion of an on-site apartment, offering the potential for supplemental rental income or convenient owner occupancy. Adding to its appeal, this property is eligible for liquor and/or gaming licenses, opening doors to additional revenue streams and business expansion possibilities. The building's square footage is not currently specified. This versatile property offers a rare blend of established infrastructure, prime location, and significant income-generating potential, making it an attractive proposition for entrepreneurs and investors alike.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.